Euro, artificially over valued. - Page 2 - Political Forum

nemesis · 04-22-2008, 11:06 PM

Quote:

Originally Posted by discoman

I must let all the Europeans know that their currency the Euro, is artificially over valued. there are countries in Europe with 17 18 percent unemployment,
and many of the Social welfare systems in place are operating at their maximums.There is no way that this "Euro" can be a more valuble currency than the good old American Dollar.Someone,or some country, is manipulating the world financial markets to prop up the Euroover the Dollar.

I don't know if the Euro is being overvalued or not, but if it isn't more valuable then the American Dollar it will be soon enough. The US produces nothing, we have no manufacturing basis anymore which is ironic because that's why our dollar was worth what it was to begin with. The only thing keeping the value of the dollar in demand now is in the financial sector. People from around the world can only invest in the US if they transfer their currency into ours as our banks, government bonds and companies are the safest place to put money.

Dr House · 04-23-2008, 01:35 AM

Quote:

Originally Posted by nemesis

The US produces nothing, we have no manufacturing basis anymore

Oh, for fuck's sake, where the hell do people get that goddamn idea???

For the billionth time, we have a manufacturing base bigger than China's entire goddamn economy. We get jobs insourced, we don't just outsource them. Our exports are worth $1.2 trillion a year, we're the World's second-biggest exporter. What's more, thanks to the falling dollar 35% of our growth last year was export-led.

See, this is why we should not leave a democratic electorate in charge of a nation's economy.

Unbelievable.

-Dr House

nemesis · 04-23-2008, 02:09 AM

Quote:

Originally Posted by Dr House

Oh, for fuck's sake, where the hell do people get that goddamn idea???

For the billionth time, we have a manufacturing base bigger than China's entire goddamn economy. We get jobs insourced, we don't just outsource them. Our exports are worth $1.2 trillion a year, we're the World's second-biggest exporter. What's more, thanks to the falling dollar 35% of our growth last year was export-led.

See, this is why we should not leave a democratic electorate in charge of a nation's economy.

Unbelievable.

-Dr House

Okay then. What is it exactly that we're manufacturing?

Martin · 04-23-2008, 03:02 AM

Among others, planes come to mind...

Dr House · 04-23-2008, 04:10 AM

Quote:

Originally Posted by nemesis

Okay then. What is it exactly that we're manufacturing?

Planes, cars (including foreign cars, we're a big exporter of German and Japanese cars), steel, chemicals, electronics, foodstuffs, and military hardware among other things. Total industrial output in January 2008 was $2.7 trillion, $100 billion higher than China's nominal GDP.

-Dr House

Kazikli Bey · 04-23-2008, 04:18 AM

Don't forget that America is also the largest exporter of music and movie. Sure, you couldn't stand by that alone, but it does account for something.

cpetroaca · 04-23-2008, 07:22 AM

Quote:

Originally Posted by nemesis

The US produces nothing, we have no manufacturing basis anymore

The microprocessor industry : Intel , AMD , IBM , Sun Microsystems . You almost have a monopoly here.
I also think that the US is pretty far from producing nothing.

lg11 · 04-23-2008, 11:19 AM

Quote:

Originally Posted by Dr House

Oh, for fuck's sake, where the hell do people get that goddamn idea???

For the billionth time, we have a manufacturing base bigger than China's entire goddamn economy. We get jobs insourced, we don't just outsource them. Our exports are worth $1.2 trillion a year, we're the World's second-biggest exporter. What's more, thanks to the falling dollar 35% of our growth last year was export-led.

See, this is why we should not leave a democratic electorate in charge of a nation's economy.

Unbelievable.

-Dr House

Yes, the second biggest exporter, second to germany, which is a good 4 times smaller popoulation wise. The United States used to be BY FAR the biggest exporter of goods (BY FAR), whats your point? There is simply no way of denying the steady decline of manufacturing jobs in the United States. And, while I think that unemployment rates in the U.S are lower than in the bigger European countries, the actual statistics are very misleading because people are being taken off the records after only a couple of months, whethere they have a job or not doesn't really matter.

nemesis · 04-23-2008, 12:38 PM

Quote:

Originally Posted by cpetroaca

The microprocessor industry : Intel , AMD , IBM , Sun Microsystems . You almost have a monopoly here.
I also think that the US is pretty far from producing nothing.

Okay. I thought those were being produced in India.

Dr House · 04-23-2008, 02:05 PM

Quote:

Originally Posted by lg11

Yes, the second biggest exporter, second to germany, which is a good 4 times smaller popoulation wise. The United States used to be BY FAR the biggest exporter of goods (BY FAR), whats your point? There is simply no way of denying the steady decline of manufacturing jobs in the United States.

No, actually, we're second to China now, AFAIK. Germany is third behind us. And the manufacturing decline isn't directly attributable to outsourcing, it's been occurring since the 70's.

Quote:

And, while I think that unemployment rates in the U.S are lower than in the bigger European countries, the actual statistics are very misleading because people are being taken off the records after only a couple of months, whethere they have a job or not doesn't really matter.

I'm pretty sure they're actually taken off the record after 2 weeks of not actively looking for work, which admittedly deflates the unemployment figures by 0.5-1%. It's still pretty damn low. And the long-term unemployment rate is 0.4%, which is downright enviable for an OECD country. France's long term unemployment rate is 4.1%, and Germany's is 5.6%.

-Dr House